Money in suspense

[leighclaxton]

my husband has twin daughters who will be 27 this month one of them has lived with us since she was 12 the other he hasn't seen since she was 10 (the daughters choice). When they were children he set up a payment plan so that they would have a small lump sum when they reached the age of 18. The daughter who lives with us obviously received this but the daughter who he has not seen for 17 years did not. I was wondering what has become of this money and if there is any way that we can retrieve it??????

[999tigger]

Whats the suspense bit?

You have no details about how you recovered the money relating to your existing daughter and know nothing about it? Was it an actual account? You should talk to the bank where it was at and see if they cna locate it, becayse they know the daughters name.

 

You can also try https://www.moneyadviceservice.org.uk/en/articles/tracing-lost-bank-accounts-savings-or-premium-bonds

[Cyclone]

Presumably the OP has details, but didn't share them. And given how these things work, I expect it was an actual amount... How could it not be?

[999tigger]

Presumably the OP has details, but didn't share them. And given how these things work, I expect it was an actual amount... How could it not be?

 

Because it could be a child account, child trust fund or whatever savings vehicle they decided on at the time. With zero information, then its hard to comment beyond they will need to contact their bank as they will be best placed to assist.

[Cyclone]

I'd suspect that legally that money now belongs to the estranged daughter anyway.

[Dr Afzal]

Presumably the 10 year old went to live with her mother, so you mean she has never been seen by you or your husband since then.

 

I understand your concern is about money here, but do you or your husband (the child`s father) not have any concern about the 10 year (now a 27 years old)

Edited May 8, 2016 by Dr Afzal

[Jeffrey Shaw]

I'd suspect that legally that money now belongs to the estranged daughter anyway.

Because...?

[Cyclone]

Because it was held in trust for her and became hers on her 18th birthday.

The fact that she doesn't know and so can't claim it doesn't (AFAIK) alter that.

 

I'm guessing that it was held in trust or something like that, as clearly it wasn't just set aside in the OPs husbands regular accounts or he'd know where it was.

 

Interesting that he continued to pay into it for 8 years whilst not seeing the daughter as well.

[leighclaxton]

Whats interesting about it? Shes his daughter he hoped that one day she would change her mind he would give ten times the amount tomorrow if she would talk to him but last year she got married and we and her twin sister only knew about it when an old friend informed us months later.

[999tigger]

I'd suspect that legally that money now belongs to the estranged daughter anyway.

 

They are just trying to identify where it is so she can ahev it . that was my impression.

 

---------- Post added 14-05-2016 at 13:38 ----------

 

Whats interesting about it? Shes his daughter he hoped that one day she would change her mind he would give ten times the amount tomorrow if she would talk to him but last year she got married and we and her twin sister only knew about it when an old friend informed us months later.

 

So you are trying to recover it for yourselves or for her?

I had assumed it was for her benefit, becayse the moment he made the contributions it became her property. So i'd agree with Cyclone on that. Bit basic so I didnt think it would be an issue. If he is trying to recover it for hismelf its a no go.

Has he bothered to talk to his bank to identify it?

Edited May 14, 2016 by 999tigger